Fashion designer Oscar de la Renta signed a lease at the retail space at 680 Madison Avenue in Lenox Hill, Manhattan. The lease was disclosed in a filing in city property records yesterday.
According to a source, the lease runs for 10 years and starts at about $3.5 million per year. The space is 4,392 square feet on the ground floor, and 3,305 square feet on the second floor. The deal includes nine months of free rent and $2.5 million of tenant improvement work the landlord will pay for.
Oscar de la Renta currently occupies a store at 772 Madison Avenue.
The landlord, which used to be controlled by Thor Equities, is now in care of RCG Longview, now part of CenterSquare Investment Management.
Thor Equities borrowed $310 million in 2017, including $215 million from JPMorgan Chase Bank and $95 million from an undisclosed mezzanine lender. RCG Longview’s affiliated company Estreich & Company includes 680 Madison Avenue on its website as a participant in the 2017 deal.
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